Cyber Liability

 

The main thing cyber and privacy policies cover is a company’s liability for a data breach when the firm’s customers’ personal information, such as Social Security or credit card numbers, is exposed or stolen by a hacker or other criminal who has gained access to the firm’s electronic network. The policies cover a variety of expenses associated with data breaches, including: notification costs, credit monitoring, fines and penalties, costs to defend claims by state regulators and also loss resulting from identity theft.

 

In addition, Cyber Liability may cover liability arising from website media content, cyber extortion, business interruption, data loss, or computer fraud.